Savings (doesn't include any increases in prices and assumes I'm going to be cutting my own hair into my late 60's)
1 Hair cut a month for the next 40 years
Total Savings: $9,600 ($20 x 12 months x 40 years)
2 cuts a month for the next 40 years
Total Savings: $19,200 ($40 x 12 months x 40 years)
Although it will take 40 years to fully realize this savings, I would rather take my family on 2-4 really nice vacations over that period than pay some low rent barber shop $20 to $40 dollars for the rest of my life. That money could also be used to cover 6 moths to a year worth of expenses in retirement. This is an easy decision for me. Cut my own hair. Building wealth over a life time is possible for anyone. It just takes sacrifice, time and discipline.